Ethereum saw a strong 7% bounce from daily support at $1,550, but the overall market structure remains bearish. Price now eyes the $2,000 resistance, which must be broken to confirm a structural shift.
Key Points:
- Bounce from $1,550 looks strong but lacks significant volume support.
- $2,000 is a key level — failure to break may lead back to $800 range lows.
Right now, this move should be treated as a reactive bounce, not a confirmed reversal. If ETH fails at $2,000, the downtrend likely resumes. But if it reclaims that level with strong momentum, we could see the first higher high in months.
Ethereum has bounced 7% from key daily support at $1,550, but bearish market structure still dominates. A break above $2,000 is needed to confirm a bullish shift. Until then, downside risks toward $800 remain.
Key Points:
- Bounce from $1,550 looks strong but lacks significant volume support.
- $2,000 is a key level — failure to break may lead back to $800 range lows.
Right now, this move should be treated as a reactive bounce, not a confirmed reversal. If ETH fails at $2,000, the downtrend likely resumes. But if it reclaims that level with strong momentum, we could see the first higher high in months.
Ethereum has bounced 7% from key daily support at $1,550, but bearish market structure still dominates. A break above $2,000 is needed to confirm a bullish shift. Until then, downside risks toward $800 remain.
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Free Alpha Group t.me/freetradingden
Unlock up-to $8,000 USDT in bonuses, only at Blofin - Link Below to start Trading.
partner.blofin.com/d/alchemisttrader
Unlock up-to $8,000 USDT in bonuses, only at Blofin - Link Below to start Trading.
partner.blofin.com/d/alchemisttrader
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.